This article caught my eye today --> http://biz.yahoo.com/cnnm/080226/022608_financial_illiteracy.html?.v=6&.pf=banking-budgeting
It's only one of many that state the same things:
1. Americans don't really understand basic financial concepts - even college grads.
2. Even if they "understand" them, our lifestyles usually do not coincide - most people live beyond their means on credit.
3. It's a growing problem.
4. Most people are not saving money.
I'm interested in some opinions here:
Do you claim to understand financial concepts like debt, compounding interest, and NPV?
Why is it so hard to live within our means in today's society?
What are the negatives of this lifestyle? Since we all die anyway, why not spend all our money?
Sunday, March 2, 2008
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